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MWDN: MetroWest companies get tax incentives

Several MetroWest companies will receive tax incentives aimed at creating more than 250 jobs.

Gov. Deval Patrick and the Massachusetts Life Science Center announced Thursday more than $25 million in tax incentives – or tax breaks – being awarded to 28 life science companies.

Among those receiving the tax incentives will be the Genzyme Corp., GTC Biotherapeautics Inc., and Interlace Medical of Framingham; Facet Solutions of Hopkinton; Sepracor of Marlborough and Still River Systems of Littleton.

Those companies will receive $7.95 million in tax incentives.

“GTC is grateful that the Life Sciences Center’s innovative financing initiative has awarded support to our cutting edge approved production technology platform as we move forward into commercialization and further product development,” said Jack Green, senior vice president and chief financial officer of GTC.

As part of the agreement when receiving the tax incentives, the companies had to commit to adding jobs.

Genzyme will receive $6 million in incentives and create 200 jobs; Sepracor will receive $750,000 and create 25 jobs; Facet, GTC, Interlace and Still River will each receive $300,000 and create 10 jobs each.

The companies are required to maintain the jobs for at least five years. If they do not live up to the commitments, the state Department of Revenue can force the company to pay back all or a portion of the tax incentives.

The Life Science Tax Incentive Program was established in 2008.

“The Life Sciences Initiative was designed to bring jobs to the commonwealth and support vital research, and these incentives help us do exactly that,” said Patrick in a press release. “By supporting this growth in the life sciences, we are building upon a foundation that will benefit our economy for years to come.”

Local legislators lauded the tax incentives.

“I am thrilled to be able to help support these companies – particularly those in my district – all of whom are working hard to improve the quality of life for many people,” said state Sen. Karen Spilka, D-Ashland.

State Rep. Pam Richardson, D-Framingham, said, “This is wonderful news for Framingham during this bleak economic time. These tax incentive awards are another positive outcome of the Life Sciences Initiative for our region, and we look forward to continued partnership with the center and the companies in our area as we encourage further growth.”